How are deposits and loans trending at Flushing Financial in Q1 2026?

Average loans were $6.5 billion in Q1 2026, down about 2.0% year over year, while average deposits were $7.5 billion , down 0.9%. Noninterest-bearing deposits grew 15.3% year over year to $995.5 million , and average CDs fell 12.8% to $2.3 billion .

Flushing Financial (NASDAQ: FFIC) swings to Q1 profit as NIM widens

Q: How did Flushing Financial (FFIC) perform in Q1 2026 versus last year?

Flushing Financial posted Q1 2026 GAAP EPS of $0.17 , a sharp improvement from a loss of ($0.29) a year earlier. Core EPS increased to $0.29 from $0.23 as net interest income grew and credit costs declined compared with first quarter 2025.

Q: What happened to Flushing Financial’s net interest margin in Q1 2026?

Net interest margin improved in Q1 2026, reaching 2.67% on a GAAP basis versus 2.51% a year earlier. Core NIM rose to 2.66% , helped by lower deposit costs and increased noninterest-bearing deposits, while average loans and deposits remained relatively stable.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Flushing Financial Corporation posted a solid turnaround in first quarter 2026. GAAP diluted EPS was $0.17, compared with a loss of ($0.29) a year earlier, while core EPS rose to $0.29 from $0.23. Net income reached $5.8 million and core net income was $9.9 million, up 25% year over year.

Net interest margin expanded as funding costs eased. GAAP NIM increased to 2.67% from 2.51% a year ago, and core NIM rose to 2.66%. Average loans slipped to $6.5 billion, while average deposits were stable at $7.5 billion with a richer mix of noninterest-bearing balances and fewer CDs.

Credit quality and capital remained sound. Net charge-offs to average loans fell to 0.03% from 0.27% a year earlier, even as nonperforming assets edged up to 0.77% of total assets. Tangible common equity to tangible assets was 7.86%, slightly higher than 7.79% a year ago. Management highlighted these results as the company moves toward its pending transaction with OceanFirst Financial Corp.

Positive

Strong year-over-year earnings rebound: GAAP EPS improved to $0.17 from ($0.29), core EPS rose to $0.29 from $0.23, and core net income increased 25% year over year, driven by wider net interest margin and lower credit costs.

Negative

None.

Insights

Q1 2026 shows a clean earnings rebound driven by margin expansion and better credit costs.

Flushing Financial moved from a year-ago loss to Q1 2026 net income of $5.8 million, with GAAP EPS at $0.17 versus ($0.29). Core net income rose 25% year over year to $9.9 million, reflecting stronger underlying profitability.

Net interest margin improved as deposit costs eased and mix shifted. GAAP NIM reached 2.67% and core NIM 2.66%, both higher than 1Q25. Average loans and deposits were broadly stable, so earnings growth mainly reflects pricing, funding and mix discipline rather than balance-sheet expansion.

Credit metrics are a key support. Net charge-offs dropped to 0.03% of average loans from 0.27% a year earlier, even though nonperforming assets ticked up to 0.77% of assets. Capital stayed healthy, with tangible common equity to tangible assets at 7.86% at March 31, 2026. These results give the company a firmer base as it works toward closing the OceanFirst transaction.

8-K Event Classification

3 items: 2.02, 2.62, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 2.62 Item 2.62

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

GAAP diluted EPS: $0.17 Core EPS: $0.29 Net income: $5.8 million +5 more

8 metrics

GAAP diluted EPS $0.17 For the quarter ended March 31, 2026 vs ($0.29) in Q1 2025

Core EPS $0.29 Q1 2026, up from $0.23 in Q1 2025

Net income $5.8 million Q1 2026 net income vs ($9.8 million) in Q1 2025

Net interest margin (GAAP) 2.67% Q1 2026, up from 2.51% in Q1 2025

Core net income $9.9 million Q1 2026, 25.3% higher than Q1 2025

Noninterest-bearing deposits $995.5 million Period-end Q1 2026, up 15.3% year over year

Nonperforming assets ratio 0.77% NPAs to total assets at March 31, 2026 vs 0.71% a year ago

Tangible common equity to tangible assets 7.86% At March 31, 2026 vs 7.79% at March 31, 2025

Key Terms

Net interest margin, Core EPS, Nonperforming assets, Allowance for credit losses, +2 more

6 terms

Net interest margin financial

"Net interest margin FTE increased 16 bps YoY and decreased 1 bp QoQ to 2.67%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

Core EPS financial

"The Company reported 1Q26 GAAP and Core EPS of $0.17 and $0.29"

Core EPS is a company’s reported earnings per share after removing one-time or unusual items so investors see the business’s regular profit per share; think of it as the household’s monthly income after ignoring a one-off inheritance or emergency expense. It matters because it highlights the company’s underlying, repeatable profitability and makes it easier to compare performance across periods and with other firms, though the adjustments can vary by company.

Nonperforming assets financial

"NPAs totaled $68.2 million (77 bps of assets) in 1Q26"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

Allowance for credit losses financial

"Allowance for loan losses to gross loans totaled 0.68% in 1Q26"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

Pre-provision pre-tax net revenue financial

"Pre-provision pre-tax net revenue was $10,204 in 1Q26"

Offering Details

earnings_snapshot

Offering

Offering Type earnings_snapshot

Understanding 8-K Material Events →

04/28/2026 - 05:12 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2026

FLUSHING FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

001-33013

(Commission File Number)

Delaware

(State or Other Jurisdiction of Incorporation)

11-3209278

(I.R.S. Employer Identification No.)

220 RXR Plaza, Uniondale, NY 11556

(Address of principal executive offices)

(718) 961-5400

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	FFIC	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 28, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1 Press release dated April 28, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

usa
	FLUSHING FINANCIAL CORPORATION


Date: April 28, 2026	By:	/s/ SUSAN K. CULLEN
		Susan K. Cullen
		Senior Executive Vice President and Chief Financial Officer

Exhibit 99.1

0	● ●
	John R. Buran, President and CEO Commentary
Flushing Financial Corporation Reports First Quarter 2026 Results; Net Interest Margin Expands 16 Basis Points Year Over Year; 1Q26 GAAP and Core EPS of $0.17 and $0.29, Respectively
"Our first quarter results demonstrate the strength of this franchise as we move toward closing our transaction with OceanFirst Financial Corp. Noninterest bearing deposits grew to $995.5 million, up 15% year over year, and our cost of funds declined 13 basis points from the prior quarter, driving a net interest rate margin that has expanded 16 basis points year over year. Core net income grew 25% year over year, driven by sustained net interest income growth and an improved funding mix. With a loan pipeline of $327.4 million at quarter end, up 55% year over year, we enter this next chapter from a position of strength. We look forward to completing the transaction with OceanFirst Financial Corp. and to the expanded capabilities and opportunities their platform will bring to the customers and communities we serve." - John R. Buran, President and CEO
UNIONDALE, N.Y., April 28, 2026 – Net Interest Margin Expansion and Noninterest Deposit Growth. The Company reported 1Q26 GAAP and Core EPS of $0.17 and $0.29, compared to ($0.29) and $0.23, respectively, a year ago. During the quarter, NIM on a GAAP basis expanded 16 basis points year over year to 2.67% while Core NIM expanded 17 basis points year over year, driven by lower deposit costs and growth in noninterest bearing deposits. Average net loans decreased 2.0% YoY and 0.8% QoQ consistent with the Company's focus on disciplined pricing and credit standards. The loan pipeline increased 54.9% year over year and 18.8% quarter over quarter to $327.4 million at March 31, 2026. Stable Capital and Stable Credit Metrics. NPAs to assets were 77 bps, compared to 71 bps a year ago and 68 bps in the prior quarter. Net charge-offs to average loans were 3 bps in 1Q26, compared to 27 bps in 1Q25 and 11 bps in 4Q25. TCE/TA¹ was 7.86% at March 31, 2026, compared to 7.79% a year ago and 8.14% at December 31, 2025.

Key Financial Metrics²


	1Q26	4Q25	3Q25	2Q25	1Q25
GAAP:
Earnings (Loss) per Share	$0.17	$0.12	$0.30	$0.41	($0.29)
ROAA (%)	0.26	0.18	0.48	0.64	(0.43)
ROAE (%)	3.26	2.24	5.86	8.00	(5.36)
NIM FTE³ (%)	2.67	2.68	2.64	2.54	2.51
Core:
EPS	$0.29	$0.32	$0.35	$0.32	$0.23
ROAA (%)	0.45	0.49	0.55	0.50	0.35
ROAE (%)	5.56	6.08	6.71	6.29	4.34
Core NIM FTE (%)	2.66	2.66	2.62	2.52	2.49
Credit Quality:
NPAs/Assets (%)	0.77	0.68	0.70	0.75	0.71
ACLs/Loans (%)	0.68	0.64	0.63	0.62	0.59
ACLs/NPLs (%)	87.92	102.98	93.28	83.76	86.54
NCOs/Avg Loans (%)	0.03	0.11	0.07	0.15	0.27
Balance Sheet:
Avg Loans ($B)	$6.5	$6.6	$6.6	$6.7	$6.7
Avg Dep ($B)	$7.5	$7.5	$7.3	$7.6	$7.6
Book Value/Share	$20.58	$20.96	$21.06	$20.91	$20.81
Tangible BV/Share	$20.56	$20.94	$21.03	$20.89	$20.78
TCE/TA (%)	7.86	8.14	8.01	8.04	7.79

Note: In certain circumstances, reclassifications have been made to prior periods to conform to the current presentation.

¹ Tangible Common Equity (“TCE”)/Total Assets (“TA”).

² See “Reconciliation of GAAP Earnings (Loss) and Core Earnings”, “Reconciliation of GAAP Revenue and Pre-Provision Pre-Tax Net Revenue”, and “Reconciliation of GAAP Net Interest Income Net Interest Margin to Core Net Interest Income and Net Interest Margin.”

³ Net Interest Margin (“NIM”) Fully Taxable Equivalent (“FTE”).

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌1


1Q26 Highlights
● Net interest margin FTE increased 16 bps YoY and decreased 1 bp QoQ to 2.67%; Core net interest margin FTE increased 17 bps YoY and stayed flat QoQ to 2.66%; Prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, net gains and losses from fair value adjustments on hedges, and purchase accounting accretion totaled 5 bps in 1Q26 compared to 3 bps in 1Q25 and 8 bps in 4Q25 ● Average total deposits decreased 0.9% YoY and 0.1% QoQ to $7.5 billion; Average noninterest bearing deposits increased 12.9% YoY but decreased 0.5% QoQ totaling 12.9% of total average deposits compared to 11.3% in 1Q25 and 12.9% in 4Q25; Average CDs were $2.3 billion, down 12.8% YoY and 2.8% QoQ ● Period end loans decreased 2.7% YoY and 1.4% QoQ to $6.6 billion; Back-to-back swap loan originations were $25.1 million compared to $18.0 million in 1Q25 and $45.5 million in 4Q25 and generated $0.4 million, $0.3 million, and $0.7 million of noninterest income, respectively; Loan pipeline increased 54.9% YoY and 18.8% QoQ to $327.4 million; Approximately 13.6% of the loan pipeline consists of back-to-back swap loans ● NPAs totaled $68.2 million (77 bps of assets) in 1Q26 compared to $64.3 million (71 bps of assets) a year ago and $58.8 million (68 bps of assets) in the prior quarter ● Provision for credit losses was $2.0 million in 1Q26 compared to $4.3 million in 1Q25 and $2.7 million in 4Q25; Net charge-offs were $0.5 million in 1Q26 compared to $4.4 million in 1Q25 and $1.8 million in 4Q25; Allowance for loan losses to gross loans totaled 0.68% in 1Q26 compared to 0.59% in 1Q25 and 0.64% in 4Q25 ● Tangible Common Equity to Tangible Assets was 7.86% at March 31, 2026, compared to 7.79% at March 31, 2025, and 8.14% at December 31, 2025; Tangible book value per share was $20.56 at March 31, 2026, compared to $20.78 a year ago and $20.94 for the prior quarter

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌2

Income Statement Highlights


						YoY		QoQ
($000s, except EPS)	1Q26	4Q25	3Q25	2Q25	1Q25	Change		Change

Net Interest Income	$55,194	$55,506	$53,828	$53,209	$52,989	4.2	%	(0.6)	%
Provision for Credit Losses	2,011	2,745	1,531	4,194	4,318	(53.4)		(26.7)
Noninterest Income (Loss)	1,785	3,303	4,746	10,277	5,074	(64.8)		(46.0)
Noninterest Expense	46,775	48,228	43,365	40,356	59,676	(21.6)		(3.0)
Income (Loss) Before Income Taxes	8,193	7,836	13,678	18,936	(5,931)	238.1		4.6
Provision (Benefit) for Income Taxes	2,360	3,810	3,231	4,733	3,865	(38.9)		(38.1)
Net Income (Loss)	$5,833	$4,026	$10,447	$14,203	($9,796)	159.5		44.9
Diluted Earnings (Loss) per Common Share	$0.17	$0.12	$0.30	$0.41	($0.29)	158.6		41.7

Core Net Income¹	$9,940	$10,918	$11,957	$11,162	$7,931	25.3		(9.0)
Core EPS¹	$0.29	$0.32	$0.35	$0.32	$0.23	26.1		(9.4)

¹ See Reconciliation of GAAP Earnings (Loss) and Core Earnings

Net interest income increased YoY and decreased QoQ.

●

Net Interest Margin FTE of 2.67% increased 16 bps YoY but decreased 1 bp QoQ; The yield on interest earning assets decreased 12 bps QoQ to 5.46%, while the cost of funds decreased 13 bps QoQ.

●

Prepayment penalty income, net reversals and recoveries of interest from nonaccrual and delinquent loans, net gains and losses from fair value adjustments on hedges, and purchase accounting accretion totaled $0.9 million (5 bps to NIM) in 1Q26 compared to $0.6 million (3 bps to NIM) in 1Q25 and $1.6 million (8 bps to NIM) in 4Q25

●

Excluding the items in the previous bullet, the net interest margin was 2.62% in 1Q26 compared to 2.48% in 1Q25 and 2.60% in 4Q25

The provision for credit losses decreased YoY and QoQ.

●

Net charge-offs were $0.5 million (3 bps of average loans) in 1Q26 compared to $4.4 million (27 bps of average loans) in 1Q25 and $1.8 million (11 bps of average loans) in 4Q25

●

No systemic issues related to the charge-offs in 1Q26

Noninterest income decreased YoY and QoQ.

●

Back-to-back swap loan closings of $25.1 million in 1Q26 (compared to $18.0 million in 1Q25 and $45.5 million in 4Q25) generated $0.4 million of noninterest income (compared to $0.3 million in 1Q25 and $0.7 million in 4Q25)

●

Net gains (losses) from fair value adjustments were $(3.6) million ($(0.07) per share, net of tax) in 1Q26 compared to ($0.2) million ($0.00) per share, net of tax) in 1Q25 and $(2.0) million ($(0.03) per share, net of tax) in 4Q25

●

Life Insurance proceeds were $0.1 million in 1Q26

●

Absent the items in the previous two bullets and other immaterial adjustments, core noninterest income was $5.2 million in 1Q26, down 3.2 % YoY and up 0.1% QoQ

Noninterest expense decreased YoY and QoQ.

●

GAAP noninterest expense was $46.8 million in 1Q26, down 21.6% YoY and 3.0% QoQ, reflecting the absence of the $17.6 million goodwill impairment recorded in 1Q25 and lower merger-related costs compared to 4Q25.

●

Core noninterest expenses were $44.3 million in 1Q26, up 5.6% YoY and up 2.3% QoQ.

●

GAAP noninterest expense to average assets was 2.12% in 1Q26 compared to 2.65% in 1Q25 and 2.18% in 4Q25

Provision for income taxes was $2.4 million in 1Q26 compared to $3.9 million in 1Q25 and $3.8 million in 4Q25.

●

The effective tax rate was 28.8% in 1Q26 reflecting a more normalized rate compared to prior periods. The 1Q25 rate of (65.2%) was distorted by the non-deductible goodwill impairment charge, and the 4Q25 rate of 48.6% was elevated by non-deductible merger-related expenses.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌3

Balance Sheet, Credit Quality, and Capital Highlights


						YoY		QoQ
	1Q26	4Q25	3Q25	2Q25	1Q25	Change		Change
Averages ($MM)
Loans	$6,540	$6,592	$6,595	$6,678	$6,672	(2.0)	%	(0.8)	%
Total Deposits	7,492	7,497	7,346	7,607	7,561	(0.9)		(0.1)

Credit Quality ($000s)
Nonperforming Loans	$50,555	$41,564	$44,851	$49,247	$46,263	9.3	%	21.6	%
Nonperforming Assets	68,169	58,825	62,129	66,125	64,263	6.1		15.9
Criticized and Classified Loans	102,213	83,718	74,108	72,005	89,673	14.0		22.1
Criticized and Classified Assets	119,827	100,979	91,386	88,883	107,673	11.3		18.7
Allowance for Credit Losses/Loans (%)	0.68	0.64	0.63	0.62	0.59	9	bp	4	bp

Capital
Book Value/Share	$20.58	$20.96	$21.06	$20.91	$20.81	(1.1)	%	(1.8)	%
Tangible Book Value/Share	20.56	20.94	21.03	20.89	20.78	(1.1)		(1.8)
Tang. Common Equity/Tang. Assets (%)	7.86	8.14	8.01	8.04	7.79	7	bps	(28)	bps
Leverage Ratio (%)	8.48	8.52	8.64	8.31	8.12	36		(4)

Average loans decreased YoY and QoQ.

●

Period end loans totaled $6.6 billion, down 2.7% YoY and 1.4% QoQ

●

Total loan closings were $161.5 million in 1Q26 compared to $174.1 million in 1Q25 and $261.4 million in 4Q25; the loan pipeline was $327.4 million at March 31, 2026, up 54.9% YoY and 18.8% QoQ

●

The diversified loan portfolio is approximately 90% collateralized by real estate with an average loan-to-value ratio of less than 35%

Average total deposits decreased YoY and QoQ.

●

Average noninterest bearing deposits increased 12.9% YoY and decreased 0.5% QoQ and comprised 12.9% of average total deposits in 1Q26 compared to 11.3% a year ago

●

Average core deposits increased 5.3% YoY and 1.2% QoQ

Credit Quality: Nonperforming loans increased YoY and QoQ.

●

Nonperforming loans were 77 bps of gross loans in 1Q26 compared to 69 bps in 1Q25 and 63 bps in 4Q25

●

Criticized and classified loans were 156 bps of gross loans at 1Q26 compared to 133 bps at 1Q25 and 126 bps at 4Q25

Capital: Book value per common share and tangible book value per common share, a non-GAAP measure, both decreased 1.1% YoY to $20.58 and $20.56, respectively.

●

The Company paid a dividend of $0.22 per share in 1Q26 and declared an additional dividend of $0.22 per share paid on April 24, 2026; 807,964 shares remaining subject to repurchase under the authorized stock repurchase program, which has no expiration date or maximum dollar limit

●

Ample capital enables the Company to continue investment in the business and strategic initiatives

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌4

About Flushing Financial Corporation

Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank®, an FDIC insured, New York State —chartered commercial bank that operates banking offices in Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been building relationships with families, business owners, and communities since 1929. Today, it offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. Rewarding customers with personalized attention and bankers that can communicate in the languages prevalent within these multicultural markets is what makes the Bank uniquely different. As an Equal Housing Lender and leader in real estate lending, the Bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also fosters relationships with consumers nationwide through its online banking division with the iGObanking® and BankPurely® brands.

Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at FlushingBank.com. Flushing Financial Corporation’s earnings release is available at www.FlushingBank.com under Investor Relations.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding the proposed transaction of the Company with OceanFirst Financial Corp. (“OceanFirst”). Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The Company has no obligation to update these forward-looking statements.

These forward-looking statements also include but are not limited to: (i) the risk that the proposed transaction with OceanFirst may not be completed in a timely manner or at all; (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including obtaining the necessary regulatory approvals (and the risk that such regulatory approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement between OceanFirst and the Company; (iv) the inability to obtain alternative capital in the event it becomes necessary to complete the proposed transaction; (v) the effect of the announcement or pendency of the proposed transaction on OceanFirst’s and the Company’s business relationships, operating results and business generally; (vi) risks that the proposed transaction disrupts current plans and operations of OceanFirst and the Company; (vii) potential difficulties in retaining OceanFirst and Company customers and employees as a result of the proposed transaction; (viii) OceanFirst’s and the Company’s estimates of its financial performance; (ix) changes in general economic, political, or industry conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; (x) uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; (xi) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of OceanFirst’s and the Company’s underwriting practices and the risk of fraud; (xii) fluctuations in the demand for loans; (xiii) the ability to develop and maintain a strong core deposit base or other low cost funding sources necessary to fund OceanFirst’s and the Company’s activities particularly in a rising or high interest rate environment; (xiv) the rapid withdrawal of a significant amount of deposits over a short period of time; (xv) results of examinations by regulatory authorities of OceanFirst or the Company and the possibility that any such regulatory authority may, among other things, limit OceanFirst’s or the Company’s business activities, restrict OceanFirst’s or the Company’s ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase OceanFirst’s or the Company’s allowance for credit losses, result in write-downs of asset values, restrict OceanFirst’s or the Company’s ability or that of OceanFirst’s bank subsidiary or Flushing Bank to pay dividends, or impose fines, penalties or sanctions; (xvi) the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; (xvii) changes in the markets in which OceanFirst and the Company compete, including with respect to the competitive landscape, technology evolution or regulatory changes; (xviii) changes in consumer spending, borrowing and saving habits; (xix) slowdowns in securities trading or shifting demand for security trading products; (xx) the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; (xxi) legislative or regulatory changes; (xxii) changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, (xxiii) impact of operating in a highly competitive industry; (xxiv) reliance on third party service providers; (xxv) competition in

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌5

retaining key employees; (xxvi) risks related to data security and privacy, including the impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; (xxvii) changes to accounting principles and guidelines; (xxviii) potential litigation relating to the proposed transaction that could be instituted against OceanFirst, the Company or their respective directors and officers, including the effects of any outcomes related thereto; (xxix) volatility in the trading price of OceanFirst’s or the Company’s securities; (xxx) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; (xxxi) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected expenses, factors or events; (xxxii) the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where OceanFirst and the Company do business; and (xxxiii) the dilution caused by OceanFirst’s issuance of additional shares of its capital stock in connection with the proposed transaction. The foregoing list of factors is not exhaustive. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above.

#FF- Statistical Tables Follow -

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌6

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)


	At or for the three months ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands, except per share data)	2026			2025			2025			2025			2025
Performance Ratios ⁽¹⁾
Return on average assets		0.26	%		0.18	%		0.48	%		0.64	%		(0.43)	%
Return on average equity		3.26			2.24			5.86			8.00			(5.36)
Yield on average interest-earning assets ⁽²⁾		5.46			5.58			5.70			5.59			5.51
Cost of average interest-bearing liabilities		3.32			3.46			3.62			3.58			3.50
Cost of funds		2.91			3.04			3.21			3.19			3.13
Net interest rate spread during period⁽²⁾		2.14			2.12			2.08			2.01			2.01
Net interest margin ⁽²⁾		2.67			2.68			2.64			2.54			2.51
Noninterest expense to average assets		2.12			2.18			1.99			1.81			2.65
Efficiency ratio ⁽³⁾		73.55			71.52			71.03			67.69			72.21
Average interest-earning assets to average interest-bearing liabilities		1.19	X		1.19	X		1.18	X		1.17	X		1.17	X

Average Balances
Total loans, net	$	6,539,653		$	6,591,699		$	6,595,037		$	6,678,494		$	6,671,922
Total interest-earning assets		8,292,959			8,313,586			8,181,582			8,402,582			8,468,913
Total assets		8,826,485			8,846,472			8,702,227			8,918,075			9,015,880
Total deposits		7,492,325			7,496,670			7,345,547			7,607,080			7,560,956
Total interest-bearing liabilities		6,974,738			6,973,230			6,923,640			7,176,399			7,261,100
Stockholders' equity		715,145			718,727			712,600			709,839			731,592

Per Share Data
Book value per common share ⁽⁴⁾	$	20.58		$	20.96		$	21.06		$	20.91		$	20.81
Tangible book value per common share ⁽⁵⁾	$	20.56		$	20.94		$	21.03		$	20.89		$	20.78

Stockholders' Equity
Stockholders' equity	$	697,408		$	707,975		$	711,226		$	706,377		$	702,851
Tangible stockholders' equity		696,712			707,202			710,372			705,437			701,822

Consolidated Regulatory Capital Ratios
Tier 1 capital	$	747,808		$	752,523		$	751,258		$	740,871		$	730,950
Common equity Tier 1 capital		694,708			702,747			703,450			695,099			683,670
Total risk-based capital		984,004			986,948			983,826			972,517			961,704
Risk Weighted Assets		6,634,737			6,623,923			6,692,035			6,675,621			6,719,291

Tier 1 leverage capital (well capitalized = 5%)		8.48	%		8.52	%		8.64	%		8.31	%		8.12	%
Common equity Tier 1 risk-based capital (well capitalized = 6.5%)		10.47			10.61			10.51			10.41			10.17
Tier 1 risk-based capital (well capitalized = 8.0%)		11.27			11.36			11.23			11.10			10.88
Total risk-based capital (well capitalized = 10.0%)		14.83			14.90			14.70			14.57			14.31

Capital Ratios
Average equity to average assets		8.10	%		8.12	%		8.19	%		7.96	%		8.11	%
Equity to total assets		7.87			8.14			8.02			8.05			7.80
Tangible common equity to tangible assets ⁽⁶⁾		7.86			8.14			8.01			8.04			7.79

Asset Quality
Nonaccrual loans	$	50,555		$	41,564		$	44,851		$	49,247		$	46,263
Nonperforming loans		50,555			41,564			44,851			49,247			46,263
Nonperforming assets		68,169			58,825			62,129			66,125			64,263
Net charge-offs (recoveries)		520			1,783			1,090			2,549			4,427

Asset Quality Ratios
Nonperforming loans to gross loans		0.77	%		0.63	%		0.67	%		0.74	%		0.69	%
Nonperforming assets to total assets		0.77			0.68			0.70			0.75			0.71
Allowance for credit losses to gross loans		0.68			0.64			0.63			0.62			0.59
Allowance for credit losses to nonperforming assets		65.21			72.76			67.34			62.38			62.30
Allowance for credit losses to nonperforming loans		87.92			102.98			93.28			83.76			86.54
Net charge-offs (recoveries) to average loans		0.03			0.11			0.07			0.15			0.27

Full-service customer facilities		30			30			29			28			28

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌7

⁽¹⁾

Ratios are presented on an annualized basis, where appropriate.

⁽²⁾

Yields are calculated on the tax equivalent basis using the statutory federal income tax rate of 21% for the periods presented.

⁽³⁾

Efficiency ratio, a non-GAAP measure, was calculated by dividing core noninterest expense (excluding OREO expense and the net gain/loss from the sale of OREO) by the total of core net interest income and core noninterest income.

⁽⁴⁾

Calculated by dividing stockholders’ equity by shares outstanding.

⁽⁵⁾

Calculated by dividing tangible stockholders’ common equity, a non-GAAP measure, by shares outstanding. Tangible stockholders’ common equity is stockholders’ equity less intangible assets. See “Calculation of Tangible Stockholders’ Common Equity to Tangible Assets”.

⁽⁶⁾

See “Calculation of Tangible Stockholders’ Common Equity to Tangible Assets”.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌8

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)


	For the three months ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(In thousands, except per share data)	2026		2025		2025		2025		2025
Interest and Dividend Income
Interest and fees on loans	$	91,643	$	94,424	$	94,970	$	95,005	$	93,032
Interest and dividends on securities:
Interest		19,560		19,471		19,786		20,186		21,413
Dividends		25		27		28		28		28
Other interest income		1,782		1,900		1,685		2,183		2,063
Total interest and dividend income		113,010		115,822		116,469		117,402		116,536
Interest Expense
Deposits		52,823		55,179		57,137		59,037		57,174
Other interest expense		4,993		5,137		5,504		5,156		6,373
Total interest expense		57,816		60,316		62,641		64,193		63,547
Net Interest Income		55,194		55,506		53,828		53,209		52,989
Provision for credit losses		2,011		2,745		1,531		4,194		4,318
Net Interest Income After Provision for Credit Losses		53,183		52,761		52,297		49,015		48,671
Noninterest Income (Loss)
Banking services fee income		1,868		1,986		2,000		1,948		1,521
Net gain (loss) on sale of securities		—		47		661		—		—
Net gain (loss) on sale of loans		94		14		318		2,757		630
Net gain (loss) from fair value adjustments		(3,560)		(1,985)		(1,831)		1,656		(152)
Federal Home Loan Bank of New York stock dividends		365		369		369		428		697
Life insurance proceeds		99		—		—		—		—
Bank owned life insurance		2,202		2,037		2,319		2,835		1,574
Other income		717		835		910		653		804
Total noninterest income (loss)		1,785		3,303		4,746		10,277		5,074
Noninterest Expense
Salaries and employee benefits		26,610		26,219		24,685		22,648		22,896
Occupancy and equipment		4,557		4,240		4,189		4,005		4,092
Professional services		4,332		6,830		3,999		3,452		2,885
FDIC deposit insurance		1,001		1,038		1,373		1,508		1,709
Data processing		1,835		1,844		1,831		1,806		1,868
Depreciation and amortization		1,321		1,283		1,316		1,367		1,373
Other real estate owned/foreclosure expense		49		221		353		220		345
Impairment of goodwill		—		—		—		—		17,636
Other operating expenses		7,070		6,553		5,619		5,350		6,872
Total noninterest expense		46,775		48,228		43,365		40,356		59,676
Income (Loss) Before Provision (Benefit) for Income Taxes		8,193		7,836		13,678		18,936		(5,931)

Provision (Benefit) for income taxes		2,360		3,810		3,231		4,733		3,865
Net Income (Loss)	$	5,833	$	4,026	$	10,447	$	14,203	$	(9,796)
Dividends paid and earnings allocated to participating securities		(178)		(120)		(120)		(127)		(132)
Income (Loss) attributable to common stock	$	5,655	$	3,906	$	10,327	$	14,076	$	(9,928)
Divided by:
Weighted average common shares outstanding and participating securities		34,711		34,488		34,497		34,511		34,474
Weighted average participating securities		(735)		(547)		(558)		(582)		(542)
Total weighted average common shares outstanding		33,976		33,941		33,939		33,929		33,932

Basic earnings (loss) per common share	$	0.17	$	0.12	$	0.30	$	0.41	$	(0.29)
Diluted earnings (loss) per common share ⁽¹⁾	$	0.17	$	0.12	$	0.30	$	0.41	$	(0.29)
Dividends paid per common share	$	0.22	$	0.22	$	0.22	$	0.22	$	0.22

⁽¹⁾

There were no common stock equivalents outstanding during the periods presented.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌9

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)


	March 31,		December 31,		September 30,		June 30,		March 31,
(Dollars in thousands)	2026		2025		2025		2025		2025
ASSETS
Cash and due from banks	$	158,707	$	126,076	$	142,929	$	150,123	$	271,912
Securities held-to-maturity:
Mortgage-backed securities		7,812		7,816		7,821		7,826		7,831
Other securities, net		42,041		42,364		42,688		43,005		43,319
Securities available for sale:
Mortgage-backed securities		1,087,248		821,938		906,270		828,756		879,566
Other securities		541,339		567,986		635,153		563,031		570,578
Loans held for sale		—		—		—		—		29,624
Loans		6,561,530		6,653,952		6,670,333		6,709,601		6,741,835
Allowance for credit losses		(44,450)		(42,802)		(41,837)		(41,247)		(40,037)
Net loans		6,517,080		6,611,150		6,628,496		6,668,354		6,701,798
Interest and dividends receivable		60,418		59,436		60,044		59,607		61,510
Bank premises and equipment, net		17,193		17,734		17,073		18,145		18,181
Federal Home Loan Bank of New York stock		18,520		18,937		18,909		23,773		18,475
Bank owned life insurance		228,881		226,939		224,902		222,583		219,748
Goodwill		—		—		—		—		—
Core deposit intangibles		696		773		854		940		1,029
Right of use asset		51,016		53,118		47,761		49,759		43,870
Other assets		131,898		139,035		139,091		140,622		140,955
Total assets	$	8,862,849	$	8,693,302	$	8,871,991	$	8,776,524	$	9,008,396

LIABILITIES
Total deposits	$	7,580,388	$	7,311,742	$	7,415,528	$	7,289,352	$	7,718,218
Borrowed funds		416,499		484,653		492,457		600,171		421,542
Operating lease liability		51,916		53,842		48,253		50,102		44,385
Other liabilities		116,638		135,090		204,527		130,522		121,400
Total liabilities		8,165,441		7,985,327		8,160,765		8,070,147		8,305,545

STOCKHOLDERS' EQUITY
Preferred stock (5,000,000 shares authorized; none issued)		—		—		—		—		—
Common stock ($0.01 par value; 100,000,000 shares authorized)		387		387		387		387		387
Additional paid-in capital		325,789		326,613		325,809		325,162		324,290
Retained earnings		470,540		480,376		483,936		481,077		474,472
Treasury stock		(96,649)		(98,948)		(98,948)		(98,985)		(98,993)
Accumulated other comprehensive loss, net of taxes		(2,659)		(453)		42		(1,264)		2,695
Total stockholders' equity		697,408		707,975		711,226		706,377		702,851

Total liabilities and stockholders' equity	$	8,862,849	$	8,693,302	$	8,871,991	$	8,776,524	$	9,008,396

(In thousands)
Issued shares		38,678		38,678		38,678		38,678		38,678
Outstanding shares		33,884		33,778		33,778		33,777		33,777
Treasury shares		4,794		4,900		4,900		4,901		4,901

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌10

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

AVERAGE BALANCE SHEETS

(Unaudited)


	For the three months ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(In thousands)	2026		2025		2025		2025		2025
Interest-earning Assets:
Loans held for sale	$	—	$	—	$	—	$	24,708	$	64,085
Mortgage loans, net		5,119,895		5,197,256		5,193,430		5,260,610		5,261,261
Commercial Business loans, net		1,419,758		1,394,443		1,401,607		1,417,884		1,410,661
Total loans, net		6,539,653		6,591,699		6,595,037		6,678,494		6,671,922
Mortgage-backed securities		943,977		882,501		832,514		863,573		895,097
Other taxable securities, net		549,052		585,285		536,314		573,730		585,219
Other tax-exempt securities		42,518		42,843		43,168		43,489		43,813
Total securities, net		1,535,547		1,510,629		1,411,996		1,480,792		1,524,129
Interest-earning deposits and federal funds sold		217,759		211,258		174,549		218,588		208,777
Total interest-earning assets		8,292,959		8,313,586		8,181,582		8,402,582		8,468,913
Other assets		533,526		532,886		520,645		515,493		546,967
Total assets	$	8,826,485	$	8,846,472	$	8,702,227	$	8,918,075	$	9,015,880

Interest-bearing Liabilities:
Deposits:
Savings accounts	$	96,917	$	92,836	$	92,068	$	94,884	$	98,224
NOW accounts		2,265,480		2,223,337		2,154,978		2,388,559		2,215,683
Money market accounts		1,813,291		1,781,888		1,677,996		1,665,625		1,716,358
Certificate of deposit accounts		2,265,312		2,331,079		2,445,173		2,477,716		2,596,714
Total due to depositors		6,441,000		6,429,140		6,370,215		6,626,784		6,626,979
Mortgagors' escrow accounts		85,508		96,853		81,501		104,761		78,655
Total interest-bearing deposits		6,526,508		6,525,993		6,451,716		6,731,545		6,705,634
Borrowings		448,230		447,237		471,924		444,854		555,466
Total interest-bearing liabilities		6,974,738		6,973,230		6,923,640		7,176,399		7,261,100
Noninterest-bearing demand deposits		965,817		970,677		893,831		875,535		855,322
Other liabilities		170,785		183,838		172,156		156,302		167,866
Total liabilities		8,111,340		8,127,745		7,989,627		8,208,236		8,284,288
Equity		715,145		718,727		712,600		709,839		731,592
Total liabilities and equity	$	8,826,485	$	8,846,472	$	8,702,227	$	8,918,075	$	9,015,880

Net interest-earning assets	$	1,318,221	$	1,340,356	$	1,257,942	$	1,226,183	$	1,207,813

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌11

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

NET INTEREST INCOME AND NET INTEREST MARGIN

(Unaudited)


	For the three months ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2026			2025			2025			2025			2025
Interest Income:
Loans held for sale	$	—		$	—		$	—		$	247		$	664
Mortgage loans, net		71,972			74,181			74,149			74,240			72,391
Commercial Business loans, net		19,671			20,243			20,821			20,518			19,977
Total loans, net		91,643			94,424			94,970			94,758			92,368
Mortgage-backed securities		11,855			11,857			11,513			11,709			12,528
Other taxable securities, net		7,380			7,280			7,939			8,143			8,553
Other tax-exempt securities		443			457			458			458			456
Total securities, net		19,678			19,594			19,910			20,310			21,537
Interest-earning deposits and federal funds sold		1,782			1,900			1,685			2,183			2,063
Total interest-earning assets		113,103			115,918			116,565			117,498			116,632
Interest Expense:
Deposits:
Savings accounts	$	88		$	93		$	94		$	98		$	110
NOW accounts		17,379			18,401			18,808			21,111			18,915
Money market accounts		15,074			15,719			15,390			15,323			15,372
Certificate of deposit accounts		20,169			20,904			22,766			22,443			22,710
Total due to depositors		52,710			55,117			57,058			58,975			57,107
Mortgagors' escrow accounts		113			62			79			62			67
Total interest-bearing deposits		52,823			55,179			57,137			59,037			57,174
Borrowings		4,993			5,137			5,504			5,156			6,373
Total interest-bearing liabilities		57,816			60,316			62,641			64,193			63,547
Net interest income- tax equivalent	$	55,287		$	55,602		$	53,924		$	53,305		$	53,085
Included in net interest income above:
Episodic items ⁽¹⁾	$	674		$	1,442		$	1,498		$	878		$	294
Net gains/(losses) from fair value adjustments on hedges included in net interest income		34			42			94			64			56
Purchase accounting adjustments		160			161			191			257			252
Interest-earning Assets Yields:
Loans held for sale		—	%		—	%		—	%		4.00	%		4.14	%
Mortgage loans, net		5.62			5.71			5.71			5.64			5.50
Commercial Business loans, net		5.54			5.81			5.94			5.79			5.66
Total loans, net		5.61			5.73			5.76			5.68			5.54
Mortgage-backed securities		5.02			5.37			5.53			5.42			5.60
Other taxable securities, net		5.38			4.98			5.92			5.68			5.85
Other tax-exempt securities ⁽²⁾		4.17			4.27			4.24			4.21			4.16
Total securities, net		5.13			5.19			5.64			5.49			5.65
Interest-earning deposits and federal funds sold		3.27			3.60			3.86			3.99			3.95
Total interest-earning assets⁽¹⁾		5.46	%		5.58	%		5.70	%		5.59	%		5.51	%
Interest-bearing Liabilities Yields:
Deposits:
Savings accounts		0.36	%		0.40	%		0.41	%		0.41	%		0.45	%
NOW accounts		3.07			3.31			3.49			3.54			3.41
Money market accounts		3.33			3.53			3.67			3.68			3.58
Certificate of deposit accounts		3.56			3.59			3.72			3.62			3.50
Total due to depositors		3.27			3.43			3.58			3.56			3.45
Mortgagors' escrow accounts		0.53			0.26			0.39			0.24			0.34
Total interest-bearing deposits		3.24			3.38			3.54			3.51			3.41
Borrowings		4.46			4.59			4.67			4.64			4.59
Total interest-bearing liabilities		3.32	%		3.46	%		3.62	%		3.58	%		3.50	%

Net interest rate spread (tax equivalent)⁽¹⁾		2.14	%		2.12	%		2.08	%		2.01	%		2.01	%
Net interest margin (tax equivalent)⁽¹⁾		2.67	%		2.68	%		2.64	%		2.54	%		2.51	%
Ratio of interest-earning assets to interest-bearing liabilities		1.19	X		1.19	X		1.18	X		1.17	X		1.17	X

⁽¹⁾

Episodic items include prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, and swap terminations fees.

⁽²⁾

Yields are calculated on the tax equivalent basis using the statutory federal income tax rate of 21% for the periods presented.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌12

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

DEPOSIT and LOAN COMPOSITION

(Unaudited)

Deposit Composition


											1Q26 vs.		1Q26 vs.
	March 31,		December 31,		September 30,		June 30,		March 31,		4Q25		1Q25
(Dollars in thousands)	2026		2025		2025		2025		2025		% Change		% Change
Noninterest bearing	$	995,529	$	969,287	$	964,767	$	899,602	$	863,714	2.7	%	15.3	%
Interest bearing:
Certificate of deposit accounts		2,219,987		2,288,844		2,419,039		2,452,624		2,592,026	(3.0)		(14.4)
Savings accounts		98,325		93,752		91,089		92,699		97,624	4.9		0.7
Money market accounts		1,855,343		1,791,616		1,714,184		1,601,948		1,681,608	3.6		10.3
NOW accounts		2,314,962		2,108,653		2,143,752		2,174,124		2,393,482	9.8		(3.3)
Total interest-bearing deposits		6,488,617		6,282,865		6,368,064		6,321,395		6,764,740	3.3		(4.1)
Total due to depositors		7,484,146		7,252,152		7,332,831		7,220,997		7,628,454	3.2		(1.9)
Mortgagors' escrow deposits		96,242		59,590		82,697		68,355		89,764	61.5		7.2
Total deposits	$	7,580,388	$	7,311,742	$	7,415,528	$	7,289,352	$	7,718,218	3.7	%	(1.8)	%

Loan Composition


											1Q26 vs.		1Q26 vs.
	March 31,		December 31,		September 30,		June 30,		March 31,		4Q25		1Q25
(Dollars in thousands)	2026		2025		2025		2025		2025		% Change		% Change
Multifamily residential	$	2,387,794	$	2,382,828	$	2,442,555	$	2,487,610	$	2,531,628	0.2	%	(5.7)	%
Commercial real estate		1,932,186		1,993,018		1,960,009		1,987,523		1,953,710	(3.1)		(1.1)
One-to-four family ― mixed use property		466,734		476,423		482,933		493,846		501,562	(2.0)		(6.9)
One-to-four family ― residential		297,735		319,353		335,592		258,608		269,492	(6.8)		10.5
Construction		40,614		54,821		51,638		46,798		63,474	(25.9)		(36.0)
Mortgage loans		5,125,063		5,226,443		5,272,727		5,274,385		5,319,866	(1.9)		(3.7)

Small Business Administration		21,972		17,523		11,439		15,473		14,713	25.4		49.3
Commercial business and other		1,401,627		1,395,853		1,372,598		1,407,792		1,396,597	0.4		0.4
Commercial Business loans		1,423,599		1,413,376		1,384,037		1,423,265		1,411,310	0.7		0.9

Gross loans		6,548,662		6,639,819		6,656,764		6,697,650		6,731,176	(1.4)		(2.7)
Net unamortized (premiums) and unearned loan (cost) fees ⁽¹⁾		12,868		14,133		13,569		11,951		10,659	(9.0)		20.7
Allowance for credit losses		(44,450)		(42,802)		(41,837)		(41,247)		(40,037)	3.9		11.0
Net loans	$	6,517,080	$	6,611,150	$	6,628,496	$	6,668,354	$	6,701,798	(1.4)	%	(2.8)	%

⁽¹⁾	Includes $1.8 million, $2.0 million, $2.1 million, $2.3 million, and $2.6 million of purchase accounting unamortized discount resulting from the acquisition of Empire Bancorp at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌13

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

LOAN CLOSINGS and RATES

(Unaudited)

Loan Closings


	For the three months ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(In thousands)	2026		2025		2025		2025		2025
Multifamily residential	$	47,784	$	16,559	$	17,674	$	8,546	$	21,183
Commercial real estate		21,922		90,035		40,199		57,533		22,916
One-to-four family – mixed use property		4,302		7,553		3,580		3,039		1,842
One-to-four family – residential		289		1,174		86,589		411		35,206
Construction		4,043		3,184		4,839		2,469		3,275
Mortgage loans		78,340		118,505		152,881		71,998		84,422

Small Business Administration		5,510		6,391		528		2,457		1,250
Commercial business and other		77,657		136,486		99,351		84,721		88,404
Commercial Business loans		83,167		142,877		99,879		87,178		89,654

Total Closings	$	161,507	$	261,382	$	252,760	$	159,176	$	174,076

Weighted Average Rate on Loan Closings


	For the three months ended
	March 31,		December 31,		September 30,		June 30,		March 31,
Loan type	2026		2025		2025		2025		2025
Mortgage loans	6.18	%	6.18	%	6.44	%	6.87	%	6.68	%
Commercial Business loans	6.49		6.67		7.14		7.25		7.28
Total loans	6.34	%	6.45	%	6.72	%	7.08	%	6.99	%

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌14

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

ASSET QUALITY

(Unaudited)

Allowance for Credit Losses


	For the three months ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2026			2025			2025			2025			2025
Allowance for credit losses - loans
Beginning balances	$	42,802		$	41,837		$	41,247		$	40,037		$	40,152

Net loan charge-off (recoveries):
Multifamily residential		319			834			372			1,677			4
Commercial real estate		616			—			1,275			72			—
One-to-four family – mixed-use property		—			35			20			—			—
Small Business Administration		—			—			271			(4)			(40)
Commercial business and other		(415)			914			(848)			804			4,463
Total net loan charge-offs (recoveries)		520			1,783			1,090			2,549			4,427

Provision (benefit) for loan losses		2,168			2,748			1,680			3,759			4,312

Ending balance	$	44,450		$	42,802		$	41,837		$	41,247		$	40,037

Gross charge-offs	$	1,052		$	2,051		$	2,024		$	2,857		$	4,471
Gross recoveries		532			268			934			308			44

Allowance for credit losses - loans to gross loans		0.68	%		0.64	%		0.63	%		0.62	%		0.59	%
Net loan charge-offs (recoveries) to average loans		0.03			0.11			0.07			0.15			0.27

Nonperforming Assets


	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2026			2025			2025			2025			2025
Nonaccrual Loans:
Multifamily residential		13,006			10,214			12,970			12,364			25,952
Commercial real estate		18,339			21,786			21,786			23,481			6,703
One-to-four family - mixed-use property		—			236			—			422			426
One-to-four family - residential		1,707			1,838			1,351			2,277			1,225
Small Business Administration		1,064			554			554			2,445			2,445
Commercial business and other		16,439			6,936			8,190			8,258			9,512
Total Nonaccrual loans		50,555			41,564			44,851			49,247			46,263

Total Nonperforming Loans (NPLs)		50,555			41,564			44,851			49,247			46,263

Total Nonaccrual Securities		17,614			17,261			17,278			16,878			18,000

Total Nonperforming Assets	$	68,169		$	58,825		$	62,129		$	66,125		$	64,263

Nonperforming Assets to Total Assets		0.77	%		0.68	%		0.70	%		0.75	%		0.71	%
Allowance for Credit Losses to NPLs		87.9	%		103.0	%		93.3	%		83.8	%		86.5	%

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌15

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS (LOSS) and CORE EARNINGS

Non-cash Fair Value Adjustments to GAAP Earnings (Loss)

The variance in GAAP earnings (loss) and core earnings is partly driven by the impact of non-cash net gains and losses from fair value adjustments. These fair value adjustments relate primarily to borrowings carried at fair value under the fair value option.

Core Net Income, Core Diluted EPS, Core ROAE, Core ROAA, Pre-provision Pre-tax Net Revenue, Core Net Interest Income FTE, Core Net Interest Margin FTE, Core Interest Income and Yield on Total Loans, Core Noninterest Income, Core Noninterest Expense and Tangible Book Value per common share are each non-GAAP measures used in this release. A reconciliation to the most directly comparable GAAP financial measures appears below in tabular form. The Company believes that these measures are useful for both investors and management to understand the effects of certain interest and noninterest items and provide an alternative view of the Company’s performance over time and in comparison, to the Company’s competitors. These measures should not be viewed as a substitute for net income. The Company believes that tangible book value per common share is useful for both investors and management as this measure is commonly used by financial institutions, regulators, and investors to measure the capital adequacy of financial institutions. The Company believes these measures facilitate comparison of the quality and composition of the Company’s capital over time and in comparison, to its competitors. These measures should not be viewed as a substitute for total shareholders’ equity.

These non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌16

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS (LOSS) and CORE EARNINGS

(Unaudited)


	For the three months ended
(Dollars in thousands,	March 31,			December 31,			September 30,			June 30,			March 31,
except per share data)	2026			2025			2025			2025			2025

GAAP income (loss) before income taxes	$	8,193		$	7,836		$	13,678		$	18,936		$	(5,931)

Net (gain) loss from fair value adjustments (Noninterest income (loss))		3,560			1,985			1,831			(1,656)			152
Net (gain) loss on sale of securities (Noninterest income (loss))		—			(47)			(661)			—			—
Life insurance proceeds (Noninterest income (loss))		(99)			—			—			—			—
Valuation allowance on loans transferred to held for sale (Noninterest income (loss))		—			—			—			(2,590)			194
Net (gain) loss from fair value adjustments on hedges (Net interest income)		(34)			(42)			(94)			(64)			(56)
Net amortization of purchase accounting adjustments and intangibles (Various)		(91)			(88)			(113)			(176)			(167)
Impairment of goodwill (Noninterest expense)		—			—			—			—			17,636
Miscellaneous expense (Noninterest expense)		989			19			1,053			395			(1)
Non-deductible miscellaneous expense (Noninterest expense)		1,405			4,836			—			—			—

Core income before taxes		13,923			14,499			15,694			14,845			11,827

Provision for core income taxes		3,983			3,581			3,737			3,683			3,896

Core net income	$	9,940		$	10,918		$	11,957		$	11,162		$	7,931

GAAP diluted earnings (loss) per common share	$	0.17		$	0.12		$	0.30		$	0.41		$	(0.29)
Net (gain) loss from fair value adjustments, net of tax		0.07			0.03			0.04			(0.04)			—
Net (gain) loss on sale of securities, net of tax		—			0.01			(0.01)			—			—
Life insurance proceeds		—			—			—			—			—
Valuation allowance on loans transferred to held for sale, net of tax		—			—			—			(0.06)			—
Net (gain) loss from fair value adjustments on hedges, net of tax		—			—			—			—			—
Net amortization of purchase accounting adjustments, net of tax		—			—			—			—			—
Impairment of goodwill		—			—			—			—			0.51
Miscellaneous expense, net of tax		0.02			—			0.02			0.01			—
Non-deductible miscellaneous expense		0.03			0.14			—			—			—
Disallowed Compensation		—			0.01			—			—			—
Core diluted earnings per common share⁽¹⁾	$	0.29		$	0.32		$	0.35		$	0.32		$	0.23

Core net income, as calculated above	$	9,940		$	10,918		$	11,957		$	11,162		$	7,931
Average assets		8,826,485			8,846,472			8,702,227			8,918,075			9,015,880
Average equity		715,145			718,727			712,600			709,839			731,592
Core return on average assets⁽²⁾		0.45	%		0.49	%		0.55	%		0.50	%		0.35	%
Core return on average equity⁽²⁾		5.56	%		6.08	%		6.71	%		6.29	%		4.34	%

⁽¹⁾

Core diluted earnings per common share may not foot due to rounding.

⁽²⁾

Ratios are calculated on an annualized basis.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌17

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP REVENUE and PRE-PROVISION

PRE-TAX NET REVENUE

(Unaudited)


	For the three months ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2026			2025			2025			2025			2025

GAAP Net interest income	$	55,194		$	55,506		$	53,828		$	53,209		$	52,989
Net (gain) loss from fair value adjustments on hedges		(34)			(42)			(94)			(64)			(56)
Net amortization of purchase accounting adjustments		(160)			(161)			(191)			(257)			(252)
Core Net interest income	$	55,000		$	55,303		$	53,543		$	52,888		$	52,681

GAAP Noninterest income (loss)	$	1,785		$	3,303		$	4,746		$	10,277		$	5,074
Net (gain) loss from fair value adjustments		3,560			1,985			1,831			(1,656)			152
Net loss on sale of securities		—			(47)			(661)			—			—
(Reversal) Valuation allowance on loans transferred to held for sale		—			—			—			(2,590)			194
Life insurance proceeds		(99)			—			—			—			—
Core Noninterest income	$	5,246		$	5,241		$	5,916		$	6,031		$	5,420

GAAP Noninterest expense	$	46,775		$	48,228		$	43,365		$	40,356		$	59,676
Prepayment penalty on borrowings		—			—			—			—			—
Net amortization of purchase accounting adjustments		(69)			(73)			(78)			(81)			(85)
Impairment of goodwill		—			—			—			—			(17,636)
Miscellaneous expense		(2,394)			(4,855)			(1,053)			(395)			1
Core Noninterest expense	$	44,312		$	43,300		$	42,234		$	39,880		$	41,956

Net interest income	$	55,194		$	55,506		$	53,828		$	53,209		$	52,989
Noninterest income (loss)		1,785			3,303			4,746			10,277			5,074
Noninterest expense		(46,775)			(48,228)			(43,365)			(40,356)			(59,676)
Pre-provision pre-tax net (loss) revenue	$	10,204		$	10,581		$	15,209		$	23,130		$	(1,613)

Core:
Net interest income	$	55,000		$	55,303		$	53,543		$	52,888		$	52,681
Noninterest income		5,246			5,241			5,916			6,031			5,420
Noninterest expense		(44,312)			(43,300)			(42,234)			(39,880)			(41,956)
Pre-provision pre-tax net revenue	$	15,934		$	17,244		$	17,225		$	19,039		$	16,145
Efficiency Ratio		73.6	%		71.5	%		71.0	%		67.7	%		72.2	%

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌18

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP NET INTEREST INCOME and NET INTEREST MARGIN

to CORE NET INTEREST INCOME

(Unaudited)


	For the three months ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2026			2025			2025			2025			2025
GAAP net interest income	$	55,194		$	55,506		$	53,828		$	53,209		$	52,989
Net (gain) loss from fair value adjustments on hedges		(34)			(42)			(94)			(64)			(56)
Net amortization of purchase accounting adjustments		(160)			(161)			(191)			(257)			(252)
Tax equivalent adjustment		93			96			96			96			96
Core net interest income FTE	$	55,093		$	55,399		$	53,639		$	52,984		$	52,777
Episodic items ⁽¹⁾		(674)			(1,442)			(1,498)			(878)			(294)
Net interest income FTE excluding episodic items	$	54,419		$	53,957		$	52,141		$	52,106		$	52,483

Total average interest-earning assets ⁽²⁾	$	8,294,840		$	8,315,631		$	8,183,818		$	8,405,053		$	8,471,609
Core net interest margin FTE		2.66	%		2.66	%		2.62	%		2.52	%		2.49	%
Net interest margin FTE excluding episodic items		2.62	%		2.60	%		2.55	%		2.48	%		2.48	%

GAAP interest income on total loans, net ⁽³⁾	$	91,643		$	94,424		$	94,970		$	94,758		$	92,368
Net (gain) loss from fair value adjustments on hedges - loans		(34)			(42)			(94)			(64)			(56)
Net amortization of purchase accounting adjustments		(171)			(167)			(195)			(260)			(252)
Core interest income on total loans, net	$	91,438		$	94,215		$	94,681		$	94,434		$	92,060

Average total loans, net ⁽²⁾	$	6,541,561		$	6,593,780		$	6,597,315		$	6,681,009		$	6,674,665
Core yield on total loans		5.59	%		5.72	%		5.74	%		5.65	%		5.52	%

⁽¹⁾	Episodic items include prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, and swap terminations fees.

⁽²⁾	Excludes purchase accounting average balances for all periods presented.

⁽³⁾	Excludes interest income from loans held for sale.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌19

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CALCULATION OF TANGIBLE STOCKHOLDERS’

COMMON EQUITY to TANGIBLE ASSETS

(Unaudited)


	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2026			2025			2025			2025			2025
Total Equity	$	697,408		$	707,975		$	711,226		$	706,377		$	702,851
Less:
Goodwill		—			—			—			—			—
Core deposit intangibles		(696)			(773)			(854)			(940)			(1,029)
Tangible Stockholders' Common Equity	$	696,712		$	707,202		$	710,372		$	705,437		$	701,822

Total Assets	$	8,862,849		$	8,693,302		$	8,871,991		$	8,776,524		$	9,008,396
Less:
Goodwill		—			—			—			—			—
Core deposit intangibles		(696)			(773)			(854)			(940)			(1,029)
Tangible Assets	$	8,862,153		$	8,692,529		$	8,871,137		$	8,775,584		$	9,007,367

Tangible Stockholders' Common Equity to Tangible Assets		7.86	%		8.14	%		8.01	%		8.04	%		7.79	%

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌20

Source: View Original Filing on SEC EDGAR

FAQ

How did Flushing Financial (FFIC) perform in Q1 2026 versus last year?

Flushing Financial posted Q1 2026 GAAP EPS of $0.17, a sharp improvement from a loss of ($0.29) a year earlier. Core EPS increased to $0.29 from $0.23 as net interest income grew and credit costs declined compared with first quarter 2025.

What happened to Flushing Financial’s net interest margin in Q1 2026?

Net interest margin improved in Q1 2026, reaching 2.67% on a GAAP basis versus 2.51% a year earlier. Core NIM rose to 2.66%, helped by lower deposit costs and increased noninterest-bearing deposits, while average loans and deposits remained relatively stable.

How strong were Flushing Financial’s credit quality metrics in Q1 2026?

Credit quality remained solid in Q1 2026. Net charge-offs to average loans fell to 0.03% from 0.27% a year earlier. Nonperforming assets increased modestly to 0.77% of total assets, and the allowance for credit losses to loans rose to 0.68% from 0.59%.

What were Flushing Financial’s key capital ratios at March 31, 2026?

At March 31, 2026, Flushing Financial reported a tangible common equity to tangible assets ratio of 7.86%, compared with 7.79% a year earlier. Book value per share was $20.58, and tangible book value per share was $20.56, both slightly below the prior quarter’s levels.

What did management highlight about Flushing Financial’s merger with OceanFirst?

Management said Q1 2026 results show franchise strength as Flushing moves toward closing its transaction with OceanFirst Financial Corp.. They cited growing noninterest-bearing deposits, improved funding mix, and a $327.4 million loan pipeline as supportive as the company enters its next chapter.

Filing Exhibits & Attachments

5 documents

Press Releases

EX-99.1 EX-99.1 2.5 MB

Flushing Financial (NASDAQ: FFIC) swings to Q1 profit as NIM widens

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FAQ

How did Flushing Financial (FFIC) perform in Q1 2026 versus last year?

What happened to Flushing Financial’s net interest margin in Q1 2026?

How strong were Flushing Financial’s credit quality metrics in Q1 2026?

What were Flushing Financial’s key capital ratios at March 31, 2026?

How are deposits and loans trending at Flushing Financial in Q1 2026?

What did management highlight about Flushing Financial’s merger with OceanFirst?

Filing Exhibits & Attachments

Press Releases

Other Documents